Jump to content
Guest KJP

Cleveland: Scranton Peninsula: Development and News

Recommended Posts

One thing to remember, any proposals in the past were likely not very large in scale meaning the cost of making the peninsula buildable would have been too high for the scale of the buildings proposed. Things have changed greatly in the last decade. It's possible that something the scale of the FEB project spread over the entire peninsula and quite dense would warrant the large costs associated with building on less-than-ideal land.

Share this post


Link to post
Share on other sites

One thing to remember, any proposals in the past were likely not very large in scale meaning the cost of making the peninsula buildable would have been too high for the scale of the buildings proposed. Things have changed greatly in the last decade. It's possible that something the scale of the FEB project spread over the entire peninsula and quite dense would warrant the large costs associated with building on less-than-ideal land.

 

I also have to wonder if the use of modular construction reducing costs by 20 percent combined with a large-scale project would make the economics work? There are a lot of construction projects underway right now which has driven up the price of projects and/or making developers wait until they can affordably get a construction contractor on site. There needs to be more construction worker hiring. And there are a lot more large-scale projects in the planning/development pipeline, including nuCLEus, lakefront, Campus District-North, plus a myriad of medium-sized and smaller projects. So until there's more contractor hiring, a developer may have to pay more to accelerate their project.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Anyone know more about this?  A $200,000 "revitalization grant" from JobsOhio to the Scranton Development Company.  One of only 7 projects that JobsOhio funded in May 2015.

 

jobs-ohio.com/site/assets/files/1796/jobsohio_metrics_may_2015.pdf

 

Did a little digging online and noted that the Scranton Development Company shows an address at 1920 Scranton Rd, Cleveland, OH 44113 - the old warehouse building that sits on the north side of Scranton close to the firehouse. 

 

I couldn't find anything else - but thought it was interesting enough to share.

Share this post


Link to post
Share on other sites

^At that size, it is likely a grant to do an environmental Phase II.

 

I'd love to know more details, unfortunately the JobsOhio pdf above and the link below says "Phase 2" and nothing else:

http://www.jobs-ohio.com/about/monthly-metrics/2015/may/scranton-development-company/

 

For those unfamiliar with a Phase 2 assessment, this is what it involves:

http://www.aaienvcorp.com/phaseii.html

 

So who is Scranton Development Co? They list their address as 1920 Scranton Road (I can't figure out from the addresses on the buildings seen on GoogleEarth which building this):

http://www.sphinxaur.com/scranton-development-co/cleveland-oh/

 

However, Ohio Secretary of State shows Scranton Development Co. is a fictitious name created in 1989 by an applicant with the address of 50 Public Square, Suite 1160, Cleveland .... that's the office of David J. LaRue. He is the president and chief executive officer of Forest City Enterprises. The fictitious name has to be renewed occasionally. It was most recently renewed in March 2014, and it now lists to a Patricia A. Comai, a paralegal and office manager at Forest City:

http://www2.sos.state.oh.us/reports/rwservlet?imgc&Din=201406600235

 

Interestingly, information at the above link also notes that Scranton Development has a partner called Carter Peninsula Inc. -- also a Forest City Enterprises company!


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

^So it appears something may be in the works, but no one knows what yet. Is that a correct assessment? I've always thought  Scranton Peninsula would be such a cool place to live. Perhaps soon, this thread can be placed back into the active projects section.

Share this post


Link to post
Share on other sites

Wild speculation moment:-> if FCE wanted to do a Flats East bank type development on Scranton Penninsula, Sherwin might be very interested in being an anchor tenant.  That way they would have presence on both sides of the river

 

With downtown apt occupancy, Duck Island developments, towpath trail completion, and the success of FEB, maybe it's finally time to develop Scranton Penninsula

 

 

Wild Speculation moment over

Share this post


Link to post
Share on other sites

Forest City isn't in the development biz anymore. They're aren't even into the property ownership biz in Cleveland anymore. We don't have the margins necessary for a publicly traded company like FCE to keep Wall Street happy. However....

 

Some of their executives are into development in Cleveland and have taken it upon themselves to form their own companies or take over old ones formed by FCE to invest locally. That's what appears to be the case here (and with the Van Aken District at the end of the Blue Line).


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Latest word is that FCE has completed is Phase 2 environmental assessment of Scranton Peninsula which included borings and core samples of the soil. Any brownfield remediation will cost many millions and has yet to start. Furthermore, FCE's partnership with Scranton-Averell Inc. to develop Scranton Peninsula is very much in doubt with FCE selling off all of its assets in Cleveland. Unless S-A buys out FCE's Scranton Peninsula's properties or FCE's paper companies that own the properties are acquired by FCE executives operating on their own, then this puts future development in limbo. FYI, some FCE executives or major shareholders are going out on their own, such as the Ratners and Millers with the Van Aken District in Shaker Heights or the Rockport Townhomes in Lakewood. Not saying that's what would happen here, but I find it interesting that the FCE's fictitious name Scranton Development Co. was renewed only last year (March 2014). But the name on the paper was transferred from FCE CEO David LaRue to a paralegal/office manager. So someone wanted to keep Scranton Development Co. alive despite FCE's move to becoming a REIT.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

^The fact that someone is spending money on a phase 2 sound like good news to me. If not for imminent development (unlikely) than as due diligence for someone looking to buy out FCE or the entire ownership group.

Share this post


Link to post
Share on other sites

Well... Like any "good" Wall Street company, FCE is spending someone else's money -- namely Ohio taxpayers' money in the form of a JobsOhio grant.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

The following item on this week's CPC agenda is interesting. Lake Link LLC is a new company, created in October 2015. The attorney filing their incorporation documents, Kirk Stewart, represents other real estate development clients. The principals of this new company are Earl Walker, a Cleveland investor and former Cuyahoga Community College professor and his real estate broker, Keith Brown, president of Progressive Urban Real Estate. They've wanted to develop on Scranton Peninsula for years. The only article I could find that mentions them both is this: http://blog.cleveland.com/architecture/2009/01/flats_connections_plan_would_a.html

 

Don't be surprised to see this company buy out Forest City Enterprises' interest in the Scranton Development partnership with Scranton Averell.

 

http://planning.city.cleveland.oh.us/designreview/drcagenda/2016/02052016/index.php

 

City Planning Commission

Agenda for February 5, 2016

 

Ordinance No. xxx-16(Ward 3/Councilmember Cimperman): Authorizing the Director of Capital Projects to sell surplus City-owned property along Carter Road to Lake Link LLC for redevelopment as part of a real estate transaction to allow the City to purchase land needed from Lake Link LLC for City's Scranton-Carter Rehabilitation Project.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

BTW, the city's Scranton-Carter Rehabilitation Project is a road reconstruction project. County records show that Scranton and Carter roads, shaped like an upside-down U, will be rebuilt. The road construction project area starts at Scranton-Fairfield intersection, goes north on Scranton to the Scranton/Carter intersection, then heads southwest on Carter to Carter-Columbus intersection. Projected cost of the reconstruction is $6,385,900.

 

Carter Road from the lift bridge (across from Sherwin Williams) to Columbus Road is essentially vacated. It shows up on the city's parcel/GIS map as not existing. The right of way is currently owned by a subsidiary of Forest City. There is no rush to restore this as a through road -- unless there's one now. The Planning Commission agenda item I posted above suggests that Lake Link LLC will undertake a redevelopment of some kind. And the only city-owned property on Carter Road that I can find is across the street from Hooples bar at the intersection of Columbus/Franklin/Riverbed/Carter.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

When this peninsula is cleaned up, it will be an architect's dream. It's about as clean slate Sim City as any place in Cleveland.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

We need more buildings on Scranton Peninsula. I was hoping these latest posts would have something to do with that. Bummer....


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Hopefully this means FCE will be selling its property on Scranton Peninsula soon, too!

 

Forest City sells 7.7 acres in the Flats to #CLE-area investor group that's eyeing development:

http://realestate.cleveland.com/realestate-news/2016/12/forest_city_sells_flats_proper.html


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

With all this investment at high prices in Duck Island and now over on Scranton Road in Tremont, one has to think that the market for developing Scranton peninsula has to be just as attractive.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

I hope you're right, but tell that to Scranton-Averrill who would rather develop halfway houses and (not) maintain vacant buildings and property.

Share this post


Link to post
Share on other sites

This has been a pretty good week for Cleveland development....

 

Forest City to sell Scranton Peninsula land to investor group eyeing development (photos, video)

By Michelle Jarboe, The Plain Dealer

on June 11, 2017 at 5:30 AM

 

 

CLEVELAND, Ohio - Forest City Realty Trust, Inc., bought a former steel-mill site along the Cuyahoga River in 1988 with visions of building a mixed-use project there. Almost 30 years later, that land, across the water from Terminal Tower on Scranton Peninsula, still lies vacant.

 

Now the publicly traded company is letting it go.

 

Forest City has agreed to sell its 25-acre slice of the peninsula for an undisclosed price, in a deal that could close in August or September. The buyer is an investor group led by Akron native Matthew Weiner, an attorney now based in Savannah, Georgia; Jesse Grant, a Cleveland transplant from Portland; and Fred Geis, one of the city's most active developers.

 

They're talking about housing and commercial projects - small offices or, perhaps, cleaner industrial uses. But the buyers won't discuss specifics yet. They've hired an international design firm to help them study the entire peninsula, which spans more than 50 acres, and craft plans.

 

MORE:

http://realestate.cleveland.com/realestate-news/2017/06/forest_city_to_sell_scranton_peninsula.html#incart_river_mobileshort_home


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Think of how fast real estate moves on Duck Island just up the hill. That's what the potential is for this blank slate where you can literally build a small town from scratch.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Think of how fast real estate moves on Duck Island just up the hill. That's what the potential is for this blank slate where you can literally build a small town from scratch.

 

I was just thinking that. Pending the health of the soil in some spots, they literally have their choosing of what goes up and where. Theoretically they could make a brand new, walkable and insulated neighborhood very easily on 50 acres.

Share this post


Link to post
Share on other sites

I have been obsessed with this piece of land forever as you might tell by some of my posts throughout this thread. I am excited that what seems to be a young developer has a vision and can see the opportunity. And having Geis involved is a definite plus. I just hope a portion of it will be open for the public to enjoy.  What I personally would like to see happen is the trail to continue around the whole perimeter as development is pushed outward toward the edges and the center portion becoming a usable public space with a ton of trees and recreational components.

Share this post


Link to post
Share on other sites

I'd like to see a Tremont-Settlers Landing (Tower City) streetcar be established as part of whatever development they have in mind here. :)


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

^How could the WFL  be extended to the peninsula ?

 

Using the old Erie RR bridge next to the Carter Road bridge. Best part is that you don't need to add a bridge lift operator for the rail bridge. The Carter Road bridge operator can activate both lift bridges simultaneously.

 

But I wouldn't extend the Waterfront Line. I don't want RTA to be the sponsor and operator of the Scranton Peninsula/Tremont streetcar. The transit authorities in Cincinnati and Detroit weren't the sponsors of those streetcar projects either.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Think of how fast real estate moves on Duck Island just up the hill. That's what the potential is for this blank slate where you can literally build a small town from scratch.

 

I was just thinking that. Pending the health of the soil in some spots, they literally have their choosing of what goes up and where. Theoretically they could make a brand new, walkable and insulated neighborhood very easily on 50 acres.

 

That's one of the big issues with this site. Soil contamination and the remediation that will be needed.

Share this post


Link to post
Share on other sites

^How could the WFL  be extended to the peninsula ?

 

Using the old Erie RR bridge next to the Carter Road bridge. Best part is that you don't need to add a bridge lift operator for the rail bridge. The Carter Road bridge operator can activate both lift bridges simultaneously.

 

But I wouldn't extend the Waterfront Line. I don't want RTA to be the sponsor and operator of the Scranton Peninsula/Tremont streetcar. The transit authorities in Cincinnati and Detroit weren't the sponsors of those streetcar projects either.

 

Couldn't SP own and maintain their portion of the tracks and agree through some long term a dollar a year lease to let RTA run on them.

I am just suggesting SP run a loop around the peninsula. Like a Columbia Park type thing.

Share this post


Link to post
Share on other sites

I'd like to see a Tremont-Settlers Landing (Tower City) streetcar be established as part of whatever development they have in mind here. :)

 

Not being argumentative, I honestly just don't know how this would work given the incline between SP and Tremont.

 

I really know next to nothing about streetcars, but would that Scranton Rd Hill be manageable for such a vehicle?

Share this post


Link to post
Share on other sites

I'd like to see a Tremont-Settlers Landing (Tower City) streetcar be established as part of whatever development they have in mind here. :)

 

Not being argumentative, I honestly just don't know how this would work given the incline between SP and Tremont.

 

I really know next to nothing about streetcars, but would that Scranton Rd Hill be manageable for such a vehicle?

 

Yes. Streetcars are terrific hill climbers. One could easily climb Columbus Road hill into Ohio City.


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

Of course, we should wait to learn what they want to build on Scranton Peninsula. Will it be low-density, single-family homes? Or a few heavily automated warehouses? Or will it be a true urban neighborhood with density and mixed uses that a streetcar could really provide benefits to and benefit from by linking it to Settlers Landing/Tower City in one direction and the Ohio City Red Line station/West Side Market or Tremont in the other direction?


"Your community is your commodity, my commodity & everyone's commodity." -- borrowing on silly slogans in Cleveland's Ohio City

Share this post


Link to post
Share on other sites

The possibilities are endless.  This is likely a looooooooong term play.  I would love to see a mixed use neighborhood.  Ideally it would be heavily residential.  Knowing the reality of brownfields this might be built as a corporate campus too.  Perhaps this gets the quickest ROI fir the developers. 

Share this post


Link to post
Share on other sites

Of course, we should wait to learn what they want to build on Scranton Peninsula. Will it be low-density, single-family homes? Or a few heavily automated warehouses? Or will it be a true urban neighborhood with density and mixed uses that a streetcar could really provide benefits to and benefit from by linking it to Settlers Landing/Tower City in one direction and the Ohio City Red Line station/West Side Market or Tremont in the other direction?

 

................. it would be within 1 Sq. Mile of a certain company's founding...............

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...